Fitch rates Korea Development Bank notes A+

Fitch Ratings said it assigned a final rating of A+ to the $750 million senior unsecured global notes due Aug. 10, 2015 issued by Korea Development Bank under its existing $4 billion dollar-denominated shelf program. The bank's foreign-currency issuer default rating is A+.

The outlook is stable.

The action follows the completion of the issuance and receipt of documents conforming to the information previously received.

The ratings are in line with the sovereign ratings of the Republic of Korea, reflecting the Korean government's effective guarantee of the bank's solvency under the KDB Act, which legally binds the government to provide funds to cover any losses that the bank may incur not covered by its own reserves, Fitch said.

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